Business Continuity Solutions Signs Letter of Intent to Acquire LXR Biotech
June 03 2015 - 10:00AM
Access Wire
SCOTTSDALE, AZ / ACCESSWIRE / June 3, 2015 /
Business Continuity Solutions, Inc. (PINKSHEETS: BUCS), today
announced that it has signed a letter of intent to acquire LXR
Biotech LLC ("LXR"). LXR provides functional liquid shots for
energy, weight loss, focus and sleep. LXR has the exclusive use of
patented time release technology in its offerings, making LXR up to
3.5 times more effective than any other competing products in the
market place. LXR had revenues for 2014 of approximately $2.4
million.
LXR, a Michigan-based corporation established in 2011, creates
quality energy shots and innovative shot products. According to
LXR's founder and former 5-Hour Energy operations executive, Andrew
Krause, "Our team has more experience with liquid supplement shots
than any other team in the United States. We consider our business
plan and strategy and our track record to be in the best interests
of Business Continuity Solutions and its shareholders as an
exciting and explosive offering for the tens of millions of
consumers that use energy shots, drinks and other liquid
supplements."
Mr. Krause continued, "After significantly growing our business
to include solid partnerships with top national retailers, I
strongly believe that the next logical step in our corporate
development is being public. The greater access to capital and
overall visibility afforded by operating as a publicly-traded
organization should play an instrumental role in our ability to
expand."
John Gorman, Chairman and CEO of Business Continuity Solutions,
said, "It has been our intent to enhance shareholder value by
joining with a company of impeccable credentials having a
high-quality management team with an exciting product that is
already to market. Current projections are for the energy drink and
shots market to reach $21 billion in sales by 2017, and we think
LXR could be a frontrunner in the business. With LXR's successes in
bringing products to market, I am confident in the future of this
company. This acquisition would provide greater resources to
accelerate market penetration and growth of the company."
LXR Biotech LLC
LXR Biotech LLC, headquartered in Auburn Hills, Michigan,
provides premium functional liquid shots for energy and other
functions. For more information, visit www.lxrbiotech.com.
Safe Harbor Statement
This press release may contain certain forward-looking
statements within the meaning of Section 27A of the Securities Act
of 1933, as amended, and Section 21E of the Securities Exchange Act
of 1934, as amended. These forward-looking statements involve risks
and uncertainties. A number of factors could cause actual results
to differ from those indicated in the forward-looking statements,
which include, among others, the inherent uncertainties associated
with smaller companies, and the company's ability to secure
funding. Such statements are subject to a number of assumptions,
risks and uncertainties. Readers are cautioned that such statements
are not guarantees of future performance and those actual results
or developments may differ materially from those set forth in the
forward-looking statements. The Company undertakes no obligation to
publicly update or revise forward-looking statements, whether as a
result of new information or otherwise.
CONTACT:
Public Square LLC
info@PubSqLLC.com
Phone 866.801.1888
SOURCE: Business Continuity Solutions, Inc.